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Howard Liggett, President and CEO
Howard Liggett, President and CEO
Distressed Real Estate Consulting Services, Inc.
Analysis of: The American Dream Goes On (www.usnews.com)
In their first quarter results, several banking organizations reported stunning losses and provisions generated by these loans, with predictions of much more to come in future quarters. Indeed, national banks, which hold about half of all home equity loans, sustained as much loss from this type...
Paul Burns, Owner
Paul Burns, Owner
City Investments
Analysis of: Guarantee Gamble: Developers Dread Return of Recourse (online.wsj.com)
There were names like Fox & Carskadon, McNeil and Consolidated Capital among the biggest income property acquisition syndicators in the 70’s and 80’s, but no more.  And no more are thousands of other syndicators of that era big and small, who generally fell by the wayside as they could not...
Paul Burns, Owner
Paul Burns, Owner
City Investments
Analysis of: The American Dream Goes On (www.usnews.com)
The referenced article begins with the now usual doomsday message which many including this writer have now exhausted ad nauseam.  Three relatively short paragraphs later, the Editor-in-Chief wraps up the forgone conclusions neatly and attempts to move on to some new meat.  You can read the...
Paul Burns, Owner
Paul Burns, Owner
City Investments
Analysis of: After $4.6 Billion in Losses Head Says FHA May Have To Shut Down (www.therealestatebloggers.com)
Three years after the change in the residential market, we have now come to the failure of the financial institutions which have supported the real estate backed consumer goods market of the recent past.  You might just as well have written the article about FNMA or FHLMC, as the same solvency...
Paul Burns, Owner
Paul Burns, Owner
City Investments
Analysis of: Housing woes won’t end soon … (www.usatoday.com)
When you read that the subject poll showed that 59% of those polled believed that now is a good time to buy, you realize that the American Dream is still a great big pad with a 6.000 pound SUV or two in the garage no matter what.  JUst like land developers and builders, if you will loan money,...
James Butler, C.F.A, Ph.D., President
Rigley Financial Corporation
Analysis of: It Ain't Over Til It's Over: Financials, Credit Cards and Housing (seekingalpha.com)
Citigroup has continued to show losses in global operations, some relating to subprime issues. However, while many of the financial institutions are showing losses, Citi's losses are different, which is a good thing for the investor.
Howard Liggett, President and CEO
Howard Liggett, President and CEO
Distressed Real Estate Consulting Services, Inc.
Analysis of: Survey Says Americans Have No Faith in Lenders (www.dsnews.com)
Kerri Panchuk's article addresses the most significant intangible loss brought about by the subprime mortgage failures.  Namely,the loss of consumer borrower trust which may never be fully regained as long as predatory mortgage horror stories continue to capture headlines and...
Paul Burns, Owner
Paul Burns, Owner
City Investments
Analysis of: Best time in years to be a renter (www.eastvalleytribune.com)
When you combine rents set and projected at unrealistic levels and an economy where only 22% of jobs statewide pay $17 per hour plus benefits with a surplus of single family homes, you get high vacancy rates in apartment communities.  When the government is seeking higher tax revenue from income...
Analysis of: Shopping Centers Feast On Acquisitions (nreionline.com)
The combination of a slowing economy and turbulent debt markets has finally hit the US commercial office market. Although a great deal of equity capital remains ready to invest, between the meltdown and risk-adjustment in the financing markets, deteriorating operating fundamentals and herd mentality...
Howard Liggett, President and CEO
Howard Liggett, President and CEO
Distressed Real Estate Consulting Services, Inc.
Analysis of: Housing Prices Going Lower (www.lvrj.com)
It easy to think nationally when reading of the foreclosure number increases;the glut of homes and the downward impact on price point when,in fact,there are many regions of the country that have not been as adversely affected by speculator development and inflated land values.  Connecticut...

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